Your Present, Their Future
Founded in 1553, and re-endowed by Sir Thomas Cookes in 1693, Bromsgrove School is one of the oldest schools in the country with a long and distinguished history. We continue to draw on our past, remaining true to our core values whilst ensuring that the education provided is dynamic, progressive and rooted in the care for the individual. We are inspired, not constrained by our history.
We believe that the broad education they enjoy at School, prepares young people to go on to lead motivated, moral and fulfilled lives in the future. As with so many of their predecessors, our aim is that Old Bromsgrovians will share the talents and qualities they have developed at School, in partnership with parents, and use them to enrich the lives of others, regardless of the paths they choose to follow.
When they join us, some Bromsgrove pupils are at the very start of their educational journey whilst others are within a few years of making their way confidently in the rapidly changing world. We have day pupils and boarders; for some home is very close by, whilst others have travelled across the world to learn with us; there are a wide variety of subject and course options including A level and International Baccalaureate. Whatever their chosen ambitions and passions, be they members of the Nursery, the Pre-Preparatory, the Preparatory School or Senior School, we value every pupil as an individual and seek to find personal pathways for them to find success and fulfil their potential.
We are inviting all those who care about the School and its future to be part of our ‘GIVING@Bromsgrove’ programme. Your gift will have a lasting impact, however large or modest. By giving to Bromsgrove School Foundation, you can choose to support children who might not otherwise be able to attend the School, regardless of financial circumstances.
What Bromsgrove Means to Me...
“Ten family members have been educated at Bromsgrove and it seems to improve generation after generation. There can be no doubt the School has maximised the potential of our children both educationally and as individuals. They love it! If only everyone had the same opportunity.”
What will your legacy be?
We welcome donations of money, shares, land, property, works of art and other objects. You might want to consider remembering the School in your will or spread your gift over a number of years.
Regular giving is one of the most compelling ways to support Bromsgrove because it enables the School to plan for the future and gives donors the opportunity to manage their giving most effectively.
There are powerful reasons why all those with a connection to Bromsgrove should remember the School in their will. Most people who leave a gift to Bromsgrove are happy to support ‘where the need is greatest’. This allows us the opportunity to use your gift where it will have the most impact, usually the Foundation’s Life-Changing Bursaries scheme. However, we welcome specific gifts covering all areas of School life.
Recognition
All those who have pledged a legacy or become a regular donor to Bromsgrove are invited to join The Sir Thomas Cookes Society, an association which is held in deep respect and affection by everyone at the School.
Members of the society are invited to an annual lunch with the Headmaster and Chair of the Foundation, and their names are recorded on the Donor Tree. All donors will receive an engraved bronze, silver or gold leaf on the donor tree, and will be listed in the annual Alumni magazine. Equally, all requests for anonymity will be respected.
What Bromsgrove Means to Me...
“We could all list a thousand different answers, as every pupil has an individual experience to tell. Experiences that include sport, music, art, drama, Combined Cadet Force, the Duke of Edinburgh Awards and within the House system – but most importantly the friends and staff that are there with you. These things are what have guided me through School and will continue to do so throughout life.”
WAYS OF GIVING
Regular donations to Bromsgrove School Foundation can be made online via the School website.
Please scan the QR code or visit www.bromsgrove-school.co.uk/onlinegiving
You can also complete the giving form at the end of this document if you wish the Finance Office to set up the Direct Debit on your behalf.
If you would prefer to send us a cheque for a one-off donation, please make it payable to Bromsgrove School Foundation.
Credit or debit card gifts can be made via the School’s Finance Office - please call 01527 579679 ext. 203.
In addition, you can also leave a legacy to Bromsgrove in
Further information about the different ways of giving to Bromsgrove follow in this brochure.
What
Bromsgrove Means to Me...
“When I see Bromsgrove at work, what strikes me most is the sheer breadth of opportunity. We didn’t have to make a choice about academics, the arts, music, sports, pastoral care – all are pursued with the same aspiration to high standards. Our son doesn’t board, but there’s no doubt the boarders add something indefinable to the School which benefits the day pupils as well.”
INVESTING IN TALENT
GIVE THE GIFT OF A LIFE-CHANGING BURSARY
Our mission is to provide financial assistance to the brightest and the best, and to enable them to come to Bromsgrove regardless of their ability to pay.
The Foundation was established to build funds to support life-changing bursaries. There are two options for giving:
- An investment gift to the endowment fund will produce a permanent source of income and secure our ability to attract the very best pupils in perpetuity.
- A donor can also choose to support a child through the School over a number of years until the funds are spent. We will provide annual feedback to donors who choose to support a pupil in this way.
What Bromsgrove Means to Me...
“If you had told me six years ago that I was going to be at a top boarding school in the country on a bursary, I would have wondered if you were talking to someone else. Bromsgrove School has given me the opportunity of an education. I am now the first in my family to finish school and go on to a top ranked university.
To know that someone from my background can be offered a life-changing experience at this School is a truly unbelievable miracle. Bromsgrove gives people like me hope that we deserve a chance no matter who we are or where we come from.”
- Upper Sixth Student and School Monitor
We are working with the organisation, Remember A Charity, which will help you to find a solicitor in your area.
There’s also lots of advice available about how to leave a gift to a charity or update an existing will. For further information, please visit www.rememberacharity.org.uk
REMEMBER US IN YOUR WILL
Bromsgrove School and its Foundation are registered charities, which means that bequests are deductible for estate tax purposes, subject to your country of residence.
If you have already made a will, it can be amended with a codicil to include Bromsgrove School Foundation. We strongly advise that you consult your legal advisor.
When making a bequest please note that the beneficiary should be listed as Bromsgrove School Foundation, registered charity number 1118435.
If you are registered with the Charities Aid Foundation (CAF) in the UK, you can nominate Bromsgrove School Foundation as a beneficiary through their Expression of Wishes form.
TYPES OF LEGACIES
There are a number of different types of legacy:
A Residuary Legacy
This allows you to leave all or a percentage share of your estate after debts, other legacies and liabilities have been met. This has the advantage of automatically keeping up with inflation.
A Monetary Legacy
You can also choose to leave a sum of money, also known as a pecuniary legacy, which you can arrange to be increased in line with inflation.
A Specific Legacy
This is the gift of something valuable like property, a piece of jeweller or stocks and shares. The form of wording is the same as a pecuniary gift, except that the gift is specified instead of a cash sum.
A Reversionary Legacy
This enables dependents to be put first as beneficiaries of the will. They enjoy the assets during their lifetime then the legacy reverts to Bromsgrove upon their death. Your solicitor will be able to provide you with wording for this form of legacy.
OTHER WAYS TO GIVE TO BROMSGROVE
gifts of shares, property and land
Share giving is the most generous tax relief available to donors, combining relief on both Income and Capital Gains Tax. When you donate to a charity on the UK, share gifts quality for tax relief equal to the market value of the shares on the day the gift is made (notwithstanding their original cost to the donor), including associated costs such as broker fees. Gifts of shares to Bromsgrove School Foundation are also exempt from Inheritance Tax and companies can get Corporation Tax relief on their gift.
Direct transfers of land and property provide the same opportunity to make a substantial gift from existing stocks with tax benefits.
EXAMPLE: A donor gives their second property to Bromsgrove School Foundation. A qualified property agent values the property at £90,000 and charges £400 for the valuation. The donor then claims Income Tax relief by deducting £90,400 from their total taxable income for the tax year they made the donation.
GIFTS IN KIND
Many Old Bromsgrovians and friends of Bromsgrove also give their time to the School, for example, offering advice to pupils interested in a particular job sector or university, taking part in our mock-interview evening with Sixth Form students, volunteering in the heritage centre or hosting alumni events across the UK and abroad.
COMPANY MATCHED GIVING
A number of companies will help charitable donations through a matched giving scheme. Please check with your Payroll or HR department whether your company operates such a scheme. It is important to find out from your employer whether the funds they match go to the charity of your choice or theirs.
PAYROLL GIVING
Payroll Giving allows you to make donations to charity directly from your pay or company/personal pension. This is one of the most tax-effective ways you can give to charity. Donations are taken from your gross pay, or pension, after your National Insurance contributions have been deducted, but before Income Tax is calculated and removed.
Any employee can ask their employer or pension provider to run a Payroll Giving Scheme. You just need to provide your employer with the following information:
Name of Charity: Bromsgrove School Foundation
Registered Charity Number: 1118435
Address: Worcester Road, Bromsgrove, Worcestershire, B61 7DU
EXAMPLE 1: You pay tax at the higher rate of 40% and authorise a monthly donation of £100. That means you save £40, so the actual cost of the donation to you is £60.
EXAMPLE 2: You pay tax at the higher rate of 45% and authorise a monthly donation of £100. That means you save £45, so the actual cost of the donation to you is £50.
GIFTS FROM COMPANIES
Companies can claim corporation tax relief on all donations to charities, including covenanted donations. If you are selfemployed or a partner in a business, you pay Income Tax as an individual on your business profits. This means you can take advantage of the same tax reliefs which are available to individuals on any donations you make to Bromsgrove (including Gift Aid).
Corporation Tax is normally payable on capital gains made when land, buildings or shares – or any other asset other than money – is giving away or sold at a profit. However, if a company makes an outright gift – something given without expecting anything back in return – of an asset to a charity, there is no Corporation Tax to pay on any capital gains.
BENEFITS OF GIVING TO BROMSGROVE
UK
Tax concessions for UK taxpayers can substantially reduce the cost of the gift to the donor and increase the total value of the gift to Bromsgrove as well. As a registered charity, Bromsgrove School Foundation can reclaim tax on all donations made by UK taxpayers, thus maximising the value of the gift to the School.
Under the Gift Aid scheme, for every £1 donated by a UK taxpayer, 25p in reclaimed tax is added by the Government. For example, a donation of £1,000 using Gift Aid is worth £1,250 to Bromsgrove School Foundation once tax has been reclaimed.
If you pay higher rate tax, you can claim the difference between the higher rate of tax (40% or 45%) and the basic rate of tax on the total ‘gross’ value of your donation in your tax return. For example, if you donate £800, the total value of your donation to Bromsgrove School Foundation is £1,000. This means you can claim £200 if you pay tax at 40%, and £250 if you pay tax at 45%. The end cost of your gift to Bromsgrove is then £600 if you pay tax at 40%, and £550 if you pay tax at 45%.
Legacy gifts to Bromsgrove are exempt from Inheritance Tax. The value of the legacy gift is deducted from the total value of the estate (money, possessions and property) before IHT is worked out. Inheritance Tax is due if the estate, including any assets held in trust, is valued at over the current IHT threshold. The latest information about Inheritance Tax can be found at www.gov.uk/inheritance-tax
NORTH AMERICA
US taxpayers can make tax effective gifts or bequests through the British Schools and Universities Foundation (BSUF), (Federal Tax ID 13-616-1189), a charitable organisation approved by the U.S. Internal Revenue Service under code Section 501(c)(3). Donors must request their preference for their bequest to be used for the benefit of Bromsgrove School. Such preferences are respected by the BSUF but all grants are made at its sole discretion, as required by the IRS.
Tax deductible contributions can be made from cash, securities, charitable trusts, testamentary trusts or individual retirement accounts. For further information, please visit www.bsuf.org
EUROPEAN UNION
Transnational Giving Europe (TGE) is a partnership of leading foundations in twenty-one countries that facilitates tax-efficient cross-border giving within Europe. Currently, along with the UK, the following countries participate in the scheme: Austria, Belgium, Bulgaria, Croatia, Estonia, France, Germany, Greece, Hungary, Ireland, Italy, Luxembourg, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Switzerland.
To make a gift through TGE, you can send your gift directly to the TGE Foundation in your home country. Donors must request a preference for their donation be used for the benefit of Bromsgrove School Foundation. THE TGE foundation in your home country will provide you with a tax receipt and transfer your gift to Bromsgrove. To find out more, please visit www.transnationalgiving.eu/
Scan the QR codes or visit the relevant websites outlined about to read about the tax efficient schemes in your area.
The Next Steps
We understand that your first priority will be family, however, we hope that you might then consider leaving a gift in your will for future generations of Bromsgrovians, or support the School now with a regular or one off donation.
Please complete the confidential reply form overleaf. This will ensure that we record you as a member of the Sir Thomas Cookes Society and invite you to future events.
Should you have any questions, please do not hesitate to contact us.
Bromsgrove School Foundation
Worcester Road
Bromsgrove
Worcestershire B61 7DU
United Kingdom
Registered Charity No. 1118435
Company No. 6084879
Email - foundation@bromsgrove-school.co.uk
Telephone - +44 (0)1527 579679
Data Protection: Your data is held securely and maintained by the School and Foundation for administrative purposes only and will not be shared with any other parties.
Bromsgrove School Foundation is a company limited by guarantee and registered in England. Company No. 6084879, Registered Charity No. 1118435.
Confidential Reply Form – GIVING @BROMSGROVE
Please complete this form for legacies, regular gifts and one-off donations
Title:
First Name:
Surname:
Address:
Postcode:
Telephone:
Email:
Years at School: Start - End - House:
Today’s Date:
I would like to support:
Wherever the need is greatest Bursaries
Learning Facilities/Department/House (please specify: .............................)
I have left a legacy in my will to Bromsgrove
Please tick this box if you wish your legacy or donation to be anonymous
If you would like to inform us of the approximate value of your intended legacy, please specify here: ........................................................................................................
UK GIFT AID DECLARATION - REGULAR or ONE-OFF DONATIONS
I confirm I am a UK taxpayer and understand that if I pay less Income and/or Capital Gains Tax in the current tax year than the amount of Gift Aid claimed on all my donations it is my responsibility to pay any difference.
I want to Gift Aid this donation and any donation I make in the future or have made in the past four years.
Signature .................................................................. Date ............................................
Please notify the Foundation Office if you change your name or address or if your circumstances change whilst the declaration remains in force.
Making a Regular Gift by Direct Debit
I would like to make a gift of £…………......................... each month / quarter / year (delete as appropriate)
Commencing on ................. / ................. / ................. (write date DD/MM/YYYY)
For a period of ......................................... (write number of years or ‘until further notice’)
to: Account Name: Bromsgrove School Foundation Bank: Lloyds Bank
Account Number: 07500349 Sort Code: 30 91 36
Please deduct the above payments from my account:
Name of your bank: .........................................................................................................
Account Number: ............................................................................................. (9 digits)
Sort Code: ............... ............... - ............... ............... - ............... ...............
Signature: ........................................................................................................................
Making a Single Gift
I would like to make a single gift of £............................................................................
Please tick one of the following boxes:
I enclose a cheque made payable to ‘Bromsgrove School Foundation’
I wish to make a gift by credit card. Please debit my: Visa MasterCard
Card No: .................................................................................................. (16 digits)
Expiry Date: ............... / ............... (month/year)
Security Code: ............................. (3 digit code on back of card)
Name on Card: ................................................................................................................
Signature:......................................................................... Date: .....................................
I have made a gift by Bank Transfer. Please pay to: Lloyds Bank;
Account Name: Bromsgrove School Foundation
Account Number: 07500349 Sort Code: 30 91 36
Please specify date the amount was transferred to us: ....... / ....... / .......
I enclose a Charities Aid Foundation Voucher
